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In late 2005, the booming U.S. housing market seemed to be slowing. The Federal Reserve had begun raising interest rates. Subprime mortgage company shares were falling. Investors began to balk at buying complex mortgage securities. The housing bubble, which had propelled a historic growth in home prices, seemed poised to deflate. And if it had, the great financial crisis of 2008, which produced the Great Recession of 2008-09, might have come sooner and been less severe.
At just that moment, a few savvy financial engineers at a suburban Chicago hedge fund helped revive the Wall Street money machine, spawning billions of dollars of securities ultimately backed by home mortgages.
When the crash came, nearly all of these securities became worthless, a loss of an estimated $40 billion paid by investors, the investment banks who helped bring them into the world, and, eventually, American taxpayers.
again, for the slow
dems social engineering -> sub prime lending -> fannie and freddie
not much else involved. this isnt opinion, it is historical FACT
again, for the slow
dems social engineering -> sub prime lending -> fannie and freddie
not much else involved. this isnt opinion, it is historical FACT
Your bumper sticker logic has gigantic holes of ignorance in it.
You clearly drank the CRA bongwater.
Yes, because he said "bongwater," thus he is cool and smart.and i am supposed to take your.....clearly informed word for this? over all the actual....facts i looked up?
again, for the slow
dems social engineering -> sub prime lending -> fannie and freddie
To truthmatters it is like a bank robber is a victim because he lost his job so he had to rob a bank to support his family, hence he is a victim. Doesn't matter that he committed a crime and is a criminal.How exactly are you a victim if you borrow money and dont pay it back?
why is it you fools are pretending we are not talking about the lending institutions who switched loans on borrowers after they signed?
You are defending fucking criminal behavior to take a cheap assed shot at me personally.
You people have no shred of morals left
Yes, because he said "bongwater," thus he is cool and smart.and i am supposed to take your.....clearly informed word for this? over all the actual....facts i looked up?
Note the fools here just to insult me and they ignore the entire subject of the thread?
man the right needs a new braintrust.
and this is what the truth in this world is up against.
This is the republican way of debating any subject here.
You supply them with verifiable facts and they cluck like a gaggle of chickens doing nothing more than spouting right wing tlaking points and personal insults.
It will kill their party.
and this is what the truth in this world is up against.
This is the republican way of debating any subject here.
You supply them with verifiable facts and they cluck like a gaggle of chickens doing nothing more than spouting right wing tlaking points and personal insults.
It will kill their party.
What debate?
You posted a link and called people names.
I never would have imagined that was the way to build a constructive discourse. I have so much to learn from you.
Note the fools here just to insult me and they ignore the entire subject of the thread?
man the right needs a new braintrust.
Note, that not even TM bothers arguing the subject of the thread. In fact, any time she doesn't like it, she starts complaining about something else.
Please TM. How are people who borrow money and dont pay it back victims?
and this is what the truth in this world is up against.
This is the republican way of debating any subject here.
You supply them with verifiable facts and they cluck like a gaggle of chickens doing nothing more than spouting right wing tlaking points and personal insults.
It will kill their party.
What debate?
You posted a link and called people names.
I never would have imagined that was the way to build a constructive discourse. I have so much to learn from you.
Nope I posted a link that proves what happened was not what you right wing clowns said it was.
I then outlined for you what it meant.
I tossed in a few stupids and idiots because they are well deserved.
You merey ignored all the real subject matter and went for the only part of the conversation you understood.
the names.
How stupid and unthinking would you have to be to take it knowing full well that there is no way in hell you can afford the payments??
I find it hard to believe anyone could be that dumb on both sides.
Where is your blame for a lender who would offer the loan KNOWING the person will pay the interest for a couple of years and then default.
The bank having recieved the interest and then get the house to resell.
No you like a fool just blame the little guy who trusted the experts.
Do you know what a sub prime is caludette?
How stupid and unthinking would you have to be to take it knowing full well that there is no way in hell you can afford the payments??
I find it hard to believe anyone could be that dumb on both sides.
Where is your blame for a lender who would offer the loan KNOWING the person will pay the interest for a couple of years and then default.
The bank having recieved the interest and then get the house to resell.
No you like a fool just blame the little guy who trusted the experts.
Do you know what a sub prime is caludette?